This Administration will invoke alternative legal authorities to replace the IEEPA tariffs. We will be leveraging Section 232 and Section 301 tariff authorities that have been validated through thousands of legal challenges, he said.
Treasury’s estimates show that the use of Section 122 authority, combined with potentially enhanced Section 232 and Section 301 tariffs will result in virtually unchanged tariff revenue in 2026, Bessent said.
On Friday, the Supreme Court struck down the global tariffs imposed by the Trump administration.
Post the verdict, Trump imposed a temporary 10 per cent surcharge on articles imported into the United States for 150 days, effective 24 February.
